DMP freezing interest?

scouselad1974

Hi Guys

I've had a DMP with CCCS for the past 8 months and my experience is as follows.

My DMP was set up without a problem and all but two of my many creditors accepted and froze interest immediatley. I received no telephone calls/letters from any of the creditors who accepted the plan.
I had to deal with the other two myself, through letter templates taken from National Debtline website, after a while I managed to get both on side. The advice from CCCS was you can't give them what you haven't got, very true but that doen't stop the huge interest and late payment charges being added to your accounts. In the end I managed to get all charges and interest refunded.

I'm now 8 months into my DMP and a few creditors are asking for an update to my situation, they do this directly rather than through CCCS which is quite annoying, I always ask CCCS to send them an updated budget etc, but I have found that quite a few creditors then pretend to have not received anything from CCCS.

I'm having big problems with one of my creditors who is unwilling to carry on with the DMP even though I have stuck to the arrangement , they pretend to have received nothing even though I have sent everything via recorded delivery and call me constantly even after sending the please do not call me letter.

I would definatley reccomend CCCS as they have really helped me and I will continue to use them for the forseeable future, but using CCCS doesn't mean that you can just forget about your debt, you still need to keep an eye on your balances, check your statements and be prepared to contact your creditors yourself if CCCS don't succeed in having interest frozen etc.

Chasingmytail_2

Thanks everyone for your contributions. I am worried about being on a DMP and the interest not being frozen and my debt increasing at a steady rate.

So we have decided that we are going to look at the other options, that is going to another lender to discuss remortgage with them (our current lender actually said this might work). Am aware of the pitfalls re: secured lending so not decided only considering. And our one final option other than a DMP is selling our house, paying off our debts and getting something smaller (smaller mortgage, if we can get one or if not renting, it would be cheaper on a monthly basis to rent).
As people keep saying our lives now are about what we need not what we want. We really feel we don't need this house but we do love living here and get on really well with our neighbours, quiet life, no hassle. Once again it is fear of the unknown that stops us doing anything. But we have to do something and soon. Its only us that got us into this state and we have to take responsibility and get ourselves out.
Whatever course of action we take I will still be on this site as I have no intention of taking out any credit (except a mortgage!) ever again. We are seriously watching our spending and since Xmas have not used any credit cards but have had to use our savings to make minimum payments to cards and this is only a short term solution and cant keep this up. Yes we did the, don't know what the future holds lets have a good Xmas. Bit like I'll start the diet on Monday and just have this bar of chocolate just now. Stupid.

Will keep you informed.